Why do people have unrealistic house prices?

[uptodatetech]

Why is it that there seems to be the odd house for sale in a set area with completely unrealistic asking prices.

I mean you're not going to fool somebody into paying £200k more than the house down the road just because you ask it.

There is a house on a street near to me where they are asking £600k for a 4 bed terraced house. The house next door in need of a bit of DIY sold for £250k in 2014. House prices have risen 20% in that time frame, bringing us to £300k. Say the work done added 50k, tops 100k to the house; it'd be worth £400k which sounds plausible considering other homes Zoopla prices. But no, why is this exact same size house on for £600k?!

Is this some sort of ploy by estate agents to raise the value of property in the area?

I know of several cases where a property has been deliberately priced unrealistically, usually because it is a forced sale (either death or divorce) and there is someone living in it who has no intention of moving out.

Well, it's quite nice but nothing made me go wow. The garden is very odd, it looks like they've set up some tables and chairs in the pavement.